There are obvious reasons to break off negotiations: For
example, the other side's last best offer doesn't cut it,
you find a better alternative, or you uncover something seriously
unsavory about your opponent. Businesspeople favor and understand
these sorts of objective analyses.

There are also subtler, more subjective reasons to pull the
plug. If you're the type of negotiator who takes pride in
making the unworkable work, take special heed of the following
pitfalls to avoid:

Your opponent is just too
difficult. You learn a lot about how smart, decent and
aggressive someone is by how he or she negotiates. If you don't
like what you see and hear when you're bargaining, chances are
it'll only get worse once you're in business together.
After all, if negotiation is the courtship, then closing is the
marriage. You don't have to love, like or even respect everyone
you deal with-especially if it's a one-shot deal. But if you
find this person an insufferable, time-wasting nuisance at the
bargaining table, remember: It's only a preview of coming
attractions.

Transactional costs are too
high. You make what you think is a simple deal. Then the
"professionals" get involved . . . and nothing is simple
anymore. There are legions of lawyers, accountants, bankers,
brokers, appraisers, consultants and the like who peddle all kinds
of services to would-be deal-makers. At their best, they can be
critical to your success. They can also bleed your deal dry with
contingencies, complications, fees and commissions if you're
not careful. Choosing wisely when you hire helps. So does getting a
second opinion. Above all, ride herd. If these expenses become
disproportionate to the size of your deal, you'll end up hating
yourself in the morning.

You need to teach someone a
lesson. Frankly, I don't see this very often, but I
wish I did. There are certain deal-makers who are a blight on your
business community. You know who they are. The next time they get
cute, make yourself understood, if you can. Denying them the deal
they want is exactly the kind of operant conditioning that even
psychologist B.F. Skinner would applaud. So rejoice: You're
doing a public service.

Your gut tells you to walk
away. I like the following definition of intuition:
knowing without knowing why you know. I was once waiting to be
interviewed by a potential employer. As we shook hands for the very
first time, I heard this little voice in my head: "You will
learn to hate this man." As I left his office, I had no doubt
that he was twisted. Later, I learned that he was a screamer who
had chewed through 16 assistants in less than a year. Some
potential business associates carry a dark cloud around them. If
your gut says get out, listen to it and be grateful. After all,
everyone knows things they don't know why they know.

A speaker and attorney in Los Angeles, Marc Diener is the author of
Deal Power.